Recent suggestions to supply quantum mechanics (QM) with realistic foundations by reformulating it in light of quantum information theory (QIT) are examined and are found wanting by pointing to a basic conceptual problem that QIT itself ignores, namely, the measurement problem. Since one cannot ignore the measurement problem and at the same time pretend to be a realist, as they stand, the suggestions to reformulate QM in light of QIT are nothing but instrumentalism in disguise.